Sri Lanka's port city construction will be converted to a financial city with a new agreement which is expected to be signed by August with the China Harbour Engineering Company , Sri Lankan Premier Ranil Wickremasinghe said.

We will convert the port city to a financial city filling the gap between Singapore and Dubai" Premier said.

This financial city will offer services such as financial , trade and legal matters. The Prime Minister has appointed a committee to look into the possibilty of formulating a new agreement for the project.

After moving the Welikade Prison to Kalutara District a new commercial city will be built using the space , he further said.

Meanwhile Ranil Wickremasinghe said in Colombo that the Economical and Technological Cooperation Agreement(ETCA) with India to be signed during the course of this year, would contrary to claims being made in certain quarters , benefit Sri Lanka.

Addressing a press conference at Temple Trees, the official residence of the Premier, to announce the EU's decision to completely lift the ban on Sri Lankan fish exports, the Prime Minister said that talks with India were continuing and all indications were that the ETCA will be signed before the end of trhis year.

Meanwhile the IT progfessionals announced that it would join hands with the government Medical Officers Asociation (GMOA) to conduct a signature campaign opposing the proposed Indo-Sri lanka Economic and Technological Cooperation Agreement.

Source: Pakistan Observer